Sell Bharat Forge with a target at Rs 700: Gaurav Bissa

Gaurav Bissa, Derivatives Analyst at LKP Securities is negative on Bharat Forge. The expert has recommended traders to sell the stock with a target of Rs 700 and a stop loss at Rs 775 in intra-day trade. The stock has hit a low of Rs 745.95 and high of Rs 757 in trade so far on Monday. The stock has lost its major moving averages. The 14-day RSI for the stock stands at 34 level, which is close to the oversold territory of 30.